Ballentine Partners LLC Invests $425,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Ballentine Partners LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,479 shares of the company’s stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Continuum Advisory LLC lifted its stake in shares of Wheaton Precious Metals by 9.0% in the first quarter. Continuum Advisory LLC now owns 1,823 shares of the company’s stock worth $142,000 after buying an additional 151 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Wheaton Precious Metals by 2.9% in the first quarter. Allworth Financial LP now owns 5,715 shares of the company’s stock worth $470,000 after buying an additional 161 shares in the last quarter. PFG Investments LLC lifted its stake in shares of Wheaton Precious Metals by 0.8% in the first quarter. PFG Investments LLC now owns 22,515 shares of the company’s stock worth $1,748,000 after buying an additional 172 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Wheaton Precious Metals by 1.5% in the fourth quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock worth $668,000 after buying an additional 178 shares in the last quarter. Finally, PDS Planning Inc lifted its stake in shares of Wheaton Precious Metals by 5.0% in the first quarter. PDS Planning Inc now owns 4,497 shares of the company’s stock worth $349,000 after buying an additional 213 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 0.8%

Shares of WPM opened at $90.67 on Wednesday. Wheaton Precious Metals Corp. has a fifty-two week low of $53.05 and a fifty-two week high of $95.23. The firm’s 50 day moving average price is $87.64 and its 200 day moving average price is $76.21. The company has a market cap of $41.16 billion, a P/E ratio of 66.67, a PEG ratio of 2.69 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The company had revenue of $470.41 million during the quarter, compared to analysts’ expectations of $446.33 million. During the same quarter in the previous year, the business posted $0.36 EPS. The firm’s revenue was up 58.4% on a year-over-year basis. Research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WPM shares. Berenberg Bank lifted their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. CIBC reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday. UBS Group lifted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 14th. Finally, Royal Bank Of Canada lifted their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $93.00.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.